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COUNTRY COMMENTS BY JERRY STOWELL CATTLE By: Jerry Stowell At 10:48 April LC are up 122, while April Feeders are 112 higher. Corn is down . The Feeder Index is expected to rise 30 points tonight to the 102.38 area. Cash cattle are starting the week out with asking prices of 94 & 150 north and 94 south. Its all about $ flow today. Open interest continues to rise daily as money flows into cattle futures. We have been saying and to continue to say that a major spring high will occur here in the month of March. Sell your peanuts while the circus is in town. Still see the potential for April LC to test 94.50 -95.00. We like selling June, August and Oct LC while the strength up front drags deferreds with them. Feeders look high as well. The part of the feeding sector that has not sued hedging in the past 2 years will have a difficult time recovering a lot of equity at todays feeder price. GRAINSGrains Update by Darrell Holaday It has been a mixed morning in the grains. After a higher opening, all of the markets sold off quickly and pushed all of the markets down to levels steady with Fridays close and in the case of corn, lower on the day. The energy market was stronger early, but fell off shortly after the grain opening and that pressured the grains somewhat. Overall news remains slows in the marketplace. The only bullish factor is the psychological support of wet weather. But the warmer temperatures have put a major dent in the Midwest snowpack and the rain may eliminate it. Weather models now are suggesting a warmer and very dry trend next week, which has taken some of the steam out of this buying. Harvest progress continues in South America and yields remain very good. USDA numbers out on Wednesday at 7:30 am. At mid-day corn is steady, soybeans up .06 and wheat is up .01. THE DATA CONTAINED HEREIN IS BELIEVED TO BE DRAWN FROM RELIABLE SOURCES BUT CANNOT BE GUARANTEED, NEITHER THE INFORMATION PRESENTED NOR ANY OPINIONS EXPRESSED CONSTITUTE A SOLICITATION OF THE PURCHASE OF SALE OF ANY COMMODITY. THOSE INDIVIDUALS ACTING ON THIS INFORMATION ARE RESPONSIBLE FOR THEIR OWN ACTIONS. COMMODITY TRADING MAY NOT BE SUITABLE FOR ALL RECIPIENTS OF THIS REPORT. THE RISK OF LOSS IN TRADING FUTURES AND OPTIONS CAN BE SUBSTANTIAL. EACH INVESTOR MUST CONSIDER WHETHER THIS IS A SUITABLE INVESTMENT. ALL RECOMMENDATIONS ARE SUBJECT TO CHANGE AT ANY TIME. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
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